>>> Europe : Brokers Upgrades & Downgrades - 5th of August 2015

>>> Up
*BHP BILLITON RAISED TO HOLD VS SELL AT LIBERUM
*CINEWORLD RAISED TO OVERWEIGHT VS EQUALWEIGHT AT BARCLAYS
*FUCHS PETROLUB RAISED TO HOLD VS REDUCE AT KEPLER CHEUVREUX
*GLENCORE RAISED TO HOLD VS SELL AT LIBERUM
*RIO TINTO RAISED TO HOLD VS SELL AT LIBERUM
*ROLLS-ROYCE RAISED TO NEUTRAL VS UNDERPERFORM AT CREDIT SUISSE
*TEVA RAISED TO HOLD VS SELL AT BERENBERG

>>> Down
*BHP UPGRADED TO HOLD AT LIBERUM
*CREDIT AGRICOLE CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*DEUTZ CUT TO HOLD AT HSBC
*MELROSE CUT TO HOLD VS ADD AT NUMIS
*PRYSMIAN CUT TO EQUALWEIGHT VS OVERWEIGHT AT BARCLAYS (Note Attached)
*RIO UPGRADED TO HOLD AT LIBERUM
*SCA RAISED TO HOLD VS SELL AT SOCGEN
*THOMAS COOK CUT TO SELL VS HOLD AT BERENBERG
*TRAVIS PERKINS CUT TO NEUTRAL VS BUY AT CITI

>>> PT Change


>>> Initiation
*EUROPCAR RATED NEW EQUALWEIGHT AT MORGAN STANLEY, PT EU14
*EUROPCAR RATED NEW BUY AT GOLDMAN

>>> Call
>> Stock
*DANONE REMOVED FROM CITI FOCUS LIST EUROPE
*HEINEKEN ADDED TO CITI FOCUS LIST EUROPE
*HUNTING REMOVED FROM GOLDMAN CONVICTION BUY LIST, STAYS BUY
*SHIRE REMOVED FROM CITI FOCUS LIST EUROPE